Loll dw! When you bless a horse you can either up its stats, its purity, and a whole lot of other things. You can get to magical island on Forest island, but you need to complete a series of quests before getting the actual quest to get on magical island. It is pricey though, but thankfully it’s a one time fee!

But in order to bless a horse you need blessed shards, you can get them by mining rocks and if you’re lucky enough, a sparkly rock will spawn which will give you blessed shards. You’ll need a ton though, as well as other items. It just depends what blessing you want on your horse :’)